CICC and Xiamen Sign Memorandum on Strategic Cooperation

On January 18, China International Capital Corporation Limited (“CICC”) and Xiamen Municipal Government entered into a memorandum on strengthening cooperation in the area of promoting investment. Mr. Huang Qiang, Executive Vice Mayor of Xiamen, and Mr. Ding Wei, Head of CICC’s direct investment business and CEO of CICC Capital, attended the signing ceremony. Senior executives from Xiamen Jinyuan Group also participated in the event.

Xiamen is positioned as the financial services center across the Taiwan Strait. In 2017, the city successfully held the BRICS Summit. Nowadays Xiamen has not only built a healthy industrial base but has also become a booming ground for startups and innovation. The municipal government of Xiamen intends to bring in more professional private equity investment funds into the region to promote further growth of the local economy.

CICC is the first joint-venture investment bank in China and CICC Capital is the firm’s master platform for direct investment businesses. With its rich experience in fund-raising and investment management, CICC Capital expects to make more collaborative efforts with Xiamen in such areas as running emerging-industry investment funds.  

Mr. Huang Qiang pointed out that, for both parties, this memorandum would mark the beginning of a journey toward a bright future of prosperity in a great era. Xiamen will continue to provide the best services and environment for corporations, projects, funds and professional talents and encourage them to take roots and grow in the city. It shall continue to promote healthy growth of the economy and seek to be an exemplary city of development under the ideology of socialism with Chinese characteristics.

Mr. Ding Wei spoke highly of Xiamen as a high-quality environment for innovation and startups and an ideal place for private equity funds to thrive with all of the geographic advantages and strategic benefits offered by the city. He expressed his great expectations toward more cooperation with Xiamen both at more levels and in more domains.